Increasing Corruption, Dishonesty, and Loss of Integrity: The Dangers of Celebrating Undisclosed Wealth

Illicit Financial Flows (IFFs), corruption, and other social vices have unfortunately become a pervasive culture in Ghanaian society, a phenomenon linked to the celebration of undisclosed wealth.

Ghana loses approximately US$3 billion each year to corruption, depriving the nation of critical resources needed for development. The “money rule syndrome” plays a significant role in fueling illicit financial flows (IFFs), which refer to the illegal movement of money across borders, often involving corruption, tax evasion, and other financial crimes.

Today, in Ghana, wealth is seen as a symbol of success and social status, prompting many to engage in unscrupulous activities to acquire it overnight. Despite being a highly religious nation—with 71% of the population identifying as Christian, 20% as Muslim, and 3% adhering to indigenous or animistic beliefs—the prevalence of corruption raises serious concerns.

The era where parents, family heads, opinion leaders, and chiefs questioned the source of an individual’s wealth has faded. In the past, if a community member was caught in illicit activities, they not only brought disgrace upon themselves but also upon their entire family. Ghana was once a land of honor, where a man’s word was his bond, and the fear of disgrace kept even the most ambitious rogue in check.

Today, however, wealth—whether legally or illegally acquired—has become the yardstick for selecting leaders, even within religious institutions. Integrity, wisdom, honesty, and morality have been disregarded. It is now common to see a Junior High School graduate, who has never worked or won a lottery, suddenly owning a luxury car. Instead of questioning the source of this wealth, parents and religious leaders celebrate it.

Looters no longer hide in the shadows. They flaunt their riches in public, riding in luxury cars, living in mansions, and making grand donations, while society reveres them. In a country where integrity and accountability were valued, past corruption scandals would have sparked outrage. Instead, as Professor Stephen Kweku Asare puts it, “Not a single feather ruffled, not a single calabash shattered in protest. Even the goats in the marketplace chewed their cud in silence. The people simply shrugged, as if someone had merely announced that the sun would rise tomorrow.”

The institutions tasked with upholding integrity and accountability—contractors, police, customs officers, civil servants, judicial officers, and even preachers—are often implicated in corruption. Ghana has never lacked anti-corruption institutions, yet these bodies remain silent as criminal elements flourish. If those entrusted to protect the nation’s resources are complicit in plundering them, then inequality and underdevelopment will persist.

Consequences of Celebrating Undisclosed Wealth

Celebrating undisclosed wealth promotes corruption and illicit activities, diverting the nation’s scarce resources away from legitimate development initiatives. This erodes public trust in institutions and perpetuates inequality, as a small elite benefits at the expense of the broader population.

How Do We Change This Narrative?

To address this crisis and secure a better future for Ghana, both the ruling class and citizens must work together to promote transparency and accountability in wealth creation and ownership.

1. Strengthening Institutions: The government must reinforce tax authorities and law enforcement agencies to detect and prevent illicit activities.
2. Encouraging Civic Engagement: Public scrutiny of wealth creation and ownership should be encouraged to foster accountability.
3. Increasing Public Education: Awareness campaigns should highlight the dangers of celebrating undisclosed wealth and its impact on national development.
4. Promoting Ethical Behavior: The fight against corruption should focus on instilling ethical behavior rather than just religious teachings.

The world’s least corrupt countries have populations that may not be highly religious but uphold ethical values, lawfulness, and honesty. Until Ghana undergoes a societal transformation where integrity is prioritized over wealth accumulation, the battle against corruption and illicit activities will remain a losing one.

By acknowledging the risks associated with celebrating unidentified wealth, Ghana can work towards breaking the cycle of IFFs and fostering a transparent and equitable economic environment.

By Franklin ASARE-DONKOH